News

Job Advertisement – Invest TCI

Published

3 years ago

August 26, 2021

Deandrea Hamilton

Job Title: Corporate Finance Manager (CFM)

Reporting to: CEO

Location: Invest TCI Offices – Providenciales

Job Summary:

The Corporate Finance Manager (CFM) is a key member of the Agency team with primary responsibility for ensuring Invest Turks and Caicos has strong internal financial control structure, along with ensuring proper financial reporting, account reconciliation and budgeting. The CFM works closely with the Manager-Corporate Services to ensure effective internal operations are maintained.

The CFM’s secondary role will be to support the efforts of the Senior VP – Investor Services in attracting new investment to the country by conducting financial due diligence on investment projects, developing and maintaining a financial assessment model for Investor Services Executives and providing advice and support to the team and business clients related to the Micro-Small Enterprises (MSME) Program.

Key Duties and Responsibilities:

Financial accounting and reporting
1. Ensures that financial accounting systems, including systems for day to day transactions (general ledger, accounts payable, accounts receivable and payroll) cash flow forecasting and management, credit control, and petty cash are accurately and efficiently maintained. Systems should be maintained in accordance with generally accepted accounting principles (GAAP) and/or IFRS.
2. Ensures that supporting information for all financial transactions is documented, accurately and properly filed and compliant with all financial provisions of the relevant ordinances and statutory requirements.
3. Ensure costs and revenue are recorded and reported accurately, timely, and completely in accordance with financial assertions;
4. Ensure that costs and revenue are incurred and managed in accordance with the terms of the approved budget;
5. Ensure that Invest Turks and Caicos complies with all financial provisions of the relevant ordinances and statutory requirements particularly the Public Procurement Ordinance and the Public Finance Management Ordinance.
6. Ensure records, transactions, events, activities and other performance indicators accurately, timely and completely in accordance with performance measure assertions, if any.
7. Ensures the reconciliation of bank and investment accounts monthly, including monthly supplier reconciliations, review of overdue accounts receivables, updating the accrual and prepayment schedules and calculation and recording of depreciation expense.
8. Ensure that monthly and quarterly financial reports for management, the Board and TCIG are accurately and timely prepared in accordance with applicable standards.
9. Make recommendations to the management and the Board on potential areas to reduce expenditure or increase revenue where over run or short falls are noted, respectively.
10. Ensures the completion and maintenance of the Fixed Assets Register.

Budget Preparation
1. Collaborate with the CSM to support the preparation of the annual budget using a “Zero Based Budget” approach, in consultation with the CEO, Board of Directors and Invest TCI team.
2. Ensure alignment of the KPI’s with available resources

Project Analysis
Develop, implement and maintain system for conducting proper financial due diligence on domestic and foreign investors.
Develop/implement a financial model for investment projects that will allow for rapid review of projects and conduct of sensitivity analysis to detect project risk.
Develop templates that can be used by Investor Services Executives (ISE) to compare project costs to socio-economic benefits.
Review financial information contained in complex project proposals assigned by the SVP and comment on the financial viability of the investment as presented by the proponents.

Micro, Small & Medium Enterprises
1. Monitor compliance of grant agreements with the Center for Entrepreneurial Development (CED) to provide Government funding towards the work of the not for profit entity.
2. Provide oversight on financial analysis of MSME Business Plans.

Other Related Business
1. Undertake any related activities required by the Agency as requested by the CEO, SVP.

PERSONAL SPECIFICATIONS

Education and qualifications:

University degree or equivalent in Accounting, Finance, or equivalent

Chartered Accountant, Certified General Accountant, or Certified Management Accountant designation is an asset.

Experience and Knowledge:

Detailed knowledge of generally accepted accounting and internal control principles.
Strong analytical, problem solving and decision-making skills to evaluate alternatives and provide recommendations on business issues.
Minimum five years senior accounting experience in a public or private company environment.
Significant experience in conducting due diligence and financial analysis on development projects and in supporting entrepreneurs.
Proficiency in the use of various computer programs, including: Accounting (Simply Accounting),Word processing (MS Office), Spreadsheets MS Office), Project Management (Visio)

Skills:

Strong track record of competency in current and previous employment.
Excellent Leadership Qualities
Strong Writing and presentational skills.
Excellent Communication and interpersonal skills.
Excellent skills in MS Word, Excel, PowerPoint and Outlook
Ability to work in a team environment and manage time effectively
Commercial awareness.
Ability to maintain confidentiality

Personal Qualities:

Open and engaging demeanor.
Able to generate and share ideas.
Hands-on approach.
Willing to take personal responsibility
Able to win trust and personal credibility
Persistence and personal resilience.
Willingness to personally deliver quality to business clients.
Willingness to understand different cultures, lifestyles, and associated points of view.
Willingness to understand the values associated with small communities.

Other Requirements:

Fluent English
Willingness and ability to travel by air, land, and sea.

Salary and Allowances:

Negotiable in a range from $60,000 to $70,000 depending on education and experience.

Deadline Date for Applications

The deadline date for applications is August 27, 2021, Turks, and Caicos time.

Application Procedure

Interested persons should submit a resume, along with their contact information, cover letter, two letters of reference (one preferably from a former employer), copies of educational certificates, a Police Certificate, and a copy of the Passport photo page.

Applications can be submitted by courier or delivered directly to Invest Turks and Caicos at Unit 2D, Courtyard Plaza, Providenciales, Turks and Caicos Islands, prior to the deadline. The application should be addressed to The CEO (Acting) – Invest Turks and Caicos and envelopes should have the words “Corporate Finance Manager” clearly marked on the front.

Alternatively, applications can be emailed to dastwood@investturksandcaicos.tc .The subject line in the email should read “Corporate Finance Manager ”

We thank all applicants for their interest. However, only persons selected for an interview will be

Bahamas News

Sister Province/Island Relationship Agreement Signed between Grand Bahama Island and Hunan Province

Published

21 hours ago

April 25, 2024

Deandrea Hamilton

By LLONELLA GILBERT
Bahamas Information Services

NASSAU, The Bahamas — A significant milestone was made in the development of bilateral relations between the Governments of The Bahamas and the People’s Republic of China by the signing of the Sister Province/Island Relationship Agreement between Grand Bahama Island and Hunan Province.

The signing took place at the Ministry of Foreign Affairs on Tuesday, April 23, 2024. The Hon. Ginger Moxey, Minister for Grand Bahama; the Hon. Dr. Michael Darville, Minister of Health and Wellness; Kingsley Smith, Parliamentary Secretary in the Ministry for Grand Bahama and Joel Lewis, Permanent Secretary in the Ministry for Grand Bahama represented The Bahamas at the signing.

His Excellency Mao Weiming, Governor of Hunan Provincial People’s Government; Qu Hai, Secretary General of Hunan Provincial People’s Government; Cui Wei, Charge d’Affaires, Embassy of the People’s Republic of China; and Yang Peiran, Interpreter represented the People’s Republic of China.

Minister Moxey explained that in February 2022, she and the former Chinese Ambassador to The Bahamas, Her Excellency Dai Qingli began discussion on the establishment of a province-island relationship between Hunan Province and Grand Bahama Island because of their “immense synergy”.

“Hunan has a vibrant creative industry and its capital city, Changsha is known as the entertainment capital of China, whilst Grand Bahama is poised to become the home of entertainment in ‘Our Bluepoint for Change’.”

She said Hunan Province boasts 11 industrial sectors and Grand Bahama is the industrial capital of The Bahamas. Further, innovation driven development has been a new driving force for Hunan, while Grand Bahama is poised to become the home of innovation for The Bahamas.

Minister Moxey said she is confident that an exchange of knowledge, ideas and culture will happen between the residents of Hunan Province and Grand Bahama.

“There is potential for robust trade in various sectors, opportunities for tourism promotion and intercultural appreciation, exchanges to support performing arts programs on our island, foster growth within the Orange Economy, and tap into China’s innovation, technology and vast expertise.”

She said that the formal signing aligns with the mission of Sister Cities International, which is to promote peace through mutual respect, understanding and cooperation, one community at a time.

The Minister said, “Through collaborative programs and initiatives, this connection will support the government’s vision to diversity Grand Bahama’s economy to become the Home of Maritime and Logistics, Home of Events and Entertainment and Home of Innovation.”

She noted that in addition to signing the agreement, she looks forward to Grand Bahama residents benefitting from the signing of the Cooperation Memorandum of Understanding between Central South University and University of The Bahamas (UB), which will expand educational and technical cooperation between the two universities. The northern campus of UB is located in Grand Bahama.

His Excellency Mao Weiming said although geographically far apart, China and The Bahamas are friends with mutual respect and understanding as well as sincerity.

He explained that 27 years ago, both countries established diplomatic relations and China and The Bahamas have deepened their cooperation, strengthened their friendship and carried out many activities in the field of economy, trade and people-to-people exchange.

His Excellency recalled that in August 2022, he and Prime Minister and the Minister of Finance the Hon. Philip Davis had a video conference where they both reached a consensus to cooperate in order to usher a new chapter in the relationship between Hunan and The Bahamas.

“Today, we are here to sign a sister-to-sister relationship between Hunan and Grand Bahama. It is [a] concrete move to implement our consensus reached before and also to embark on a new journey of friendly exchanges.”

He added, “By establishing the relationship of sister cities, I believe the two sides will develop further in terms of economic and trade cooperation, people to people exchange, as well as friendship, and we will embrace new opportunities and deliver concrete benefits for the two peoples.”

He explained that Hunan, which is the home town of Chairman Mao, the founder of the People’s Republic of China, has developed very advanced industries of manufacturing, agriculture, education, culture as well as tourism.

His Excellency said he believes that Hunan and Grand Bahama enjoy very broad room for cooperation.

He said, “More efforts should be made to conduct cooperation in the fields of agriculture, tourism, culture, education and the film industry so as to realize a connectivity between our two sides in terms of logistics and the platform cooperation; so as to deliver concrete benefits for the people and to make our due contribution to the bilateral relationship between China and The Bahamas.”

PHOTO CAPTION

A significant milestone was made in the development of bilateral relations between the Governments of The Bahamas and the People’s Republic of China by the signing of the Sister Province/Island Relationship Agreement between Grand Bahama Island and Hunan Province. The signing took place at the Ministry of Foreign Affairs on Tuesday, April 23, 2024. Shown from left: Qu Hai, Secretary General of Hunan Provincial People’s Government; Cui Wei, Charge d’Affaires, Embassy of the People’s Republic of China; Yang Peiran, Interpreter H.E. Mao Weiming, Governor of Hunan Provincial People’s Government; the Hon. Ginger Moxey, Minister for Grand Bahama; the Hon. Dr. Michael Darville, Minister of Health and Wellness; Kingsley Smith, Parliamentary Secretary in the Ministry for Grand Bahama and Joel Lewis, Permanent Secretary in the Ministry for Grand Bahama.

(BIS Photos/Anthon Thompson)

Bahamas News

Nassau Cruise Port Donates Nearly $2 Million Towards Food Security

Published

21 hours ago

April 25, 2024

Deandrea Hamilton

Nassau, Bahamas: The Nassau Cruise Port has donated $1.95 million towards projects that will assist the Ministry of Agriculture and Marine Resources in its aim to increase food security for The Bahamas.

The donation officially occurred at the Ministry’s offices recently, where Minister of Agriculture and Marine Resources Hon. Jomo Campbell, Minister of Labour Hon. Pia Glover-Rolle, Permanent Secretary Neil Campbell and Nassau Cruise Port CEO Mike Maura listened to a number of presentations including one for a poultry programme for schools, a chicken broiler production programme, the redevelopment of the Blue Hill Road Farmers Market and an Authentic Bahamian Cultural Concept Store,

Mr. Maura said he was impressed by the presentations.

“I had the privilege to listen to the presentations and review presentations that touched on food security and the need for us to be self-sufficient, which as a Bahamian I support completely. At the Nassau Cruise Port, we get excited about the prospects of offering more authentic food to the millions of visitors that we have each year,” he said.

“And then, in addition to that, we had presentations around the further development of our artisans, which is so important to us as well. The guests visiting our shores are looking for something that really touches The Bahamas and can’t be found somewhere else. The Nassau Cruise Port has made a pledge to BAIC and its affiliates. We will be supporting the projects that were presented and we can’t wait to get started.”

Minister Glover-Rolle, who is also the Member of Parliament for Golden Gates, hailed Nassau Cruise Port as a “great community partner.”

“Thank you for the opportunity to not only present but agreeing to participate. Our Minister of Agriculture has a goal of reducing food imports by 25 percent by the year 2025 and our project in the Golden Gates Community speaks to that,” she said.

“We have a number of backyard farmers, farmers and fishers in our community in Golden Gates. Being able to use the Blue Hill Road Farmers Market, which is going to be dubbed the ‘Fish Fry of the South,’ as a hub for food security but also a hub where artisans and handicraft persons can come and sell their wares is wonderful. So, we are happy that you have agreed to partner with us and we look forward to a partnership and we hope to welcome some of your visitors when this amazing renovation is done.”

Minister Campbell also lauded the Nassau Cruise Port for its efforts.

“I would like to say thank you to the presenters for the presentations that are several steps in the right direction for our country, to Mr. Maura and his board at the Nassau Cruise Port and I would like to say thanks to God for this partnership and bringing us all together as we move forward, upward, together in building a better, brighter, future for The Bahamas,” he said.

Caribbean News

Agriculture Ministry Providing Two Water Trucks to Serve St. Elizabeth and St. Catherine

Published

2 days ago

April 25, 2024

Deandrea Hamilton

#Kingston, Jamaica, April 24, 2024 – The Ministry of Agriculture, Fisheries and Mining is to unveil two more water trucks this week, which will be used to service communities in St. Elizabeth and St. Catherine.

Portfolio Minister, Hon. Floyd Green, made the disclosure during Wednesday’s (April 24) post-Cabinet press briefing at Jamaica House.

He also informed that of the $90 million earmarked to support farmers being impacted by the current drought, the Ministry will be providing additional support for storage and drip-irrigation systems.

“So, we have targeted about 600 water tanks and about 400 12-millimetre drip irrigation hoses, and that distribution has already started. Additionally, we have earmarked about $8 million to really help with our livestock farmers,” Mr. Green said.

“We know the difficulty that you’re facing now in this time; [it’s] very hard to get the right nutritional support for your animals. As such, we will be providing some hay, and we will [also] provide some trucking of water to you. Again, our livestock farmers, if you are in need, please contact the Rural Agricultural Development Authority (RADA) and let us see how we can help in these times,” he further stated.

Mr. Green also encouraged farmers to download the RADA App, so that the Agency can “help guide you, not only in relation to what is happening on the rainfall side, but also in relation to your integrated pest management”.

“We do see some increases of certain types of pests during this time, and it’s important that our farmers are paying attention to that. It’s also important that you’re taking drought management seriously [by undertaking] soil mulching, looking at planting drought-tolerant crops, timely harvesting, implementing land husbandry treatments and contour ditches,” he stated.

Contact: Latonya Linton

Release: JIS

Photo Caption: Minister of Agriculture, Fisheries and Mining, Hon. Floyd Green, speaking during Wednesday’s (April 24) post-Cabinet press briefing at Jamaica House.

Donald De La Haye Photo